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presidential debate, and the big question is, will we see a romney bounce that could be a game changer in the race for the white house? good morning. welcome. i'm melissa lee along with carl quintanilla and jim cramer. david faber is at the economic summit in larue, texas. he'll join us from there in just a few minutes to kick off an exclusive interview with meg whitman. let's have a look at the futures this morning. we are seeing a positive bounce here. we are digesting, as we mentioned, last night's debate as well as jobless claims which came in lower than expected. the previous week was revised slightly higher. we are, of course, looking ahead to the jobs report on friday. as for europe, the ecb, as expected, holding the course on rates. we are looking at these headlines crossing from mario dragi. we'll monitor those as to where he will stand and the ecb stand on future rate cuts. >>> our road map starts in denver where president obama speaks this morning, trying to counter the widespread perception that he lost last night's debate. his in-rate contract down 7%, but do stocks have t
debate is in the books, incumbent barack obama and challenger mitt romney were not pulling any punches. john harwood with highlights for the showdown and where things stand in the run for the white house. >>> double whammy, taking a toll on shares of ibm and intel. we will explore whether tougher times are ahead for these blueships. talk to one analyst downgrading ibm this morning. >> and there continues to be plenty of buzz surrounding the surprising ouster of vickram pandit. revelation owes what city insiders knew, coming up. >>> it was a break even quarter compared to analyst estimates. we're looking for a seven cents a share loss. revenue, a bit short of consensus. ceo brian moynihan pointing to several positive trends, including an increase in deposits, mortgage originalation and small business lending. as well, kayla, i know you were on the reporter calls. the analyst calls beginning shortly, i guess. >> it began at 8:30. i think there's still unprepared remarks, as well. it was interesting to see the stock up, even if it was just slightly in the premarket because on the face of
for the big event. john? >> reporter: melissa, we've got several pieces of encouraging news for mitt romney from not only the wall street poll but swing states poll. you mentioned that mitt romney's closed the deficit among likely voters for obama from five points to three points. and in florida, he's closed from five down to one which is tied given the margin of error in our poll. in virginia, he has closed the gap from five to two. if you look at the state of ohio, a must-win state for mitt romney, mathematically possible for him to get to it without it but his strategists think he needs it. he needs to make progress there. but the fact that some of the national polls are coming back a little bit, some of the swing state polls are tightening, is a bit of an earn couragement for romney that he still has an opportunity for deficit with three or four points to change the dynamic in some way. he's got to hope that obama is not on his best game. you could have a scenario that like what happened in 2000 where george w. bush moved significantly without gore and ultimately became president. >> it
about the stakes raised tonight, is romney now bad for american companies trying to do business in china? >> this is a point. >> and he had caterpillar ceo saying it's your typical election year bashing. if it's not, cat has a lot bigger things to worry about. >> is this big? >> i assume but talks with afghanistan and benghazi -- we thought this was going to be about the economy all the way to the end. it's taken a hard right turn. >> tonight's the intellectual debate. ge obviously doesn't want anything bad said about china. >> no. >> we heard the same thing from caterpillar ceo, he thinks this is about political rhetoric. last week strategists said which candidate might be more market friendly. some believe romney with the sabre rattling could be more upsetting to markets. >> which you get a cold war between countries, you can see the chinese, communist parties, no toyota -- i don't know how to say that. >> we export a lot more to us than us to them. >> general motors, chinese shuts down general motors and he dumps all the gm stock like that. >> what about apple? >> i don't know. >> you
? a rally that felt romney would do a good job. >> we have a situation macro versus bernanke's bid under the market. >> if it weren't earnings report season, it would be terrific. it's like what you were saying before. if the international debate had been first -- >> foreign policy. >> how would that change the outcome? reports do sort of keep with one theme which is split personality between u.s. businesses and u.s. consumer. the real question is can that relationship hold up? >> then we had those companies that are tech that straddle both. they are western regional. and yet this whirlpool, that's a consumer stock related to housing. they said over and over again if housing gets going, they are now lean and mean. they're not enough whirlpools and coaches to overtake the duponts. >> they said we missed the consumer boat. we should have been more aggressive on that front talking about areas of strength. >> talking about a consumer company, there's a company called apple, maybe you've heard of it. it's in the spotlight as the company is set to launch a smaller version of the ipad later tod
barbs on last night's vp debates. we'll talk with andrea saul, press secretary for romney, next on cnbc. >>> there was laughing, interrupting and attacks from both sides during last night's vice presidential debate. taxes were a contentious issue during the economic portion of that. take a listen. >> there aren't enough rich people in small businesses to tax to pay for all their spending. and so the next time you hear them say don't worry about it, we'll get a few wealthy people to pay their fair share, watch out middle class. the tax bill is coming to you. >> andrea saul is the national press secretary for the romney campaign, joins us from campaign headquarters in boston. andrea, good morning. great to have you. >> good morning, thanks for having me. >> let's get the style out of the way. right? because that's what everybody wants to talk about. it's the easiest to relate to. it didn't take long for the rnc to put together an ad compiling all of biden's laughter moments, which people have talked about a lot last night and today. it's been said, if you're going to argue or complain abo
would be at 12 or 13 by now? >> really? >> yes. >> they rallied yesterday off the perception that romney won the debates. health care, for instance, hitting at another high here. if we take a look at the etf that tracks health care, xlv, that's the new 52-week high, and the kol is up by 1.25%. the financials seem that will do better under a republican administration. kohl's is interesting, jim, because there are a couple of positive analysts out saying that now with nat gas is $3 and maybe there could be a bid for coal. coal in the east is 4 to 5 is where nat gas has to be competitive. and union pacific is the major player in the way coal is shipped out west. union pacific remains a buy. if you want to buy and be reg rouse about it you can buy union pa sick and not pea body. >> some of the japanese automakers are worth watching. the ft has numbers out. the exports of autos to china in the past month have been sharply lower among japanese automakers. toyota was down 40% year on year in the month of september and we're seeing the adrs trade down a percent. >> take a look overall at asian e
the first debate last week in denver, mitt romney's closed. we've got some new nbc/"wall street journal"/maris polls out this morning that show, first of all, you've got a challenger that's tied with the president, up one in virginia, down one in florida. that's essentially an even race. between those two you've got 42 electoral votes are you talking about. mitt romney remains down in the state of ohio. that is one his campaign believes he must win to get to 270 electoral votes. he's down six, 51%-45% in that state. however, mitt romney got on a wave in denver last week and paul ryan has a chance tonight, guys, to continue that momentum, an interesting match-up, we've seen it before of an older, experienced vice president, a younger less tested running mate. we saw it with dick cheney and with john edwards in 2004. dick cheney got the better of that. we saw it with lloyd benson and dan quayle in 1988. it appeared that lloyd benson got the better of that, but of course george bush and dan quayle won the election. i talked to dan quayle yesterday -- or a few days ago, rather, he said he t
to the debate, there's that moment where governor romney says, how long are we going to get the chinese pay for what we're doing? the chinese on the one hand are paying for what we're doing because they own a lot of the debt. on the other hand, the navy is asking for billions more to defend against the chinese. where are they going to get that money from the chinese? we're tied in. it's one world. not necessarily a good one. >> that's why these are the kinds of things that have to be put on the able, one would expect, and discussed. >> i think at 11:20 a.m., chairman rogers is going to join us today. >>> when we come back, barnes & noble upping the ante in the tablet wars. in an exclusive, ceo bill lynch will tell us how their venture with microsoft will help barnes & noble take on amazon. >>> and making the case for groupon's future. we'll talk with the co-founders. >>> and taking another look at futures, lower opening after weakness in shanghai and europe today. "squawk on the street" is back in a minute. between listening to the numbers... ...and listening to your instinct. duff & phelps
national polls showing mitt romney doing much better, but in the electoral bottle grounds, we're talking about the eight or nine states that obama carried, romney has work to do, but last night, they were both doing stand up comedy. this is a traditional event that both candidates come to, both of them brought their humor. >> he knows how to seize the moment. >> the unemployment rate is at the lowest level since i took office, i don't have a joke here, i just thought it would be useful to remind everybody. >> as president obama surveys the waldorf banquet room. so little time, so much to redistribute -- >> and the one that we didn't have in that clip was the president said you may have noticed that i was pretty vigorous and energetic in the second debate, he said that's because i was rested from the nap i had in the first debate. >> and i like when he said that it gives romney and chance to wear what he and ann romney wear around the house. >> this notice that romney could win the popular vote but lose the electoral vote, is that increasingly likely? >> i would say it's unlikely, carl. i
in theory at least romney is more pro-business relative to obama. that's good for stocks. it's not that easy. beyond that there's a whole issue of the future of the fed and their commitment to the five-year ranks where they are and under romney that would not be the case. the big thing for us in the election is the bond market. that's highly asymmetric. could be a big loser on romney victory and the stock market has to deal with that even if the risk premium would come down. >> thanks for having us. sounds like jim was listening to the "squawk on the street" discussion we had yesterday on why the romney victory may not be great for stocks. >> cramming in a lot of information in a short period of time. we'll come to you later. you just heard from jim o'neill. still ahead, an exclusive with the man at the head of goldman sachs. that's lloyd blankfein. >> one restaurant stock that's still feeling the love this earning season. we'll talk about panera. for how long can it stay on top of its game? look at those games today. the company's ceo and executive chairman will join us live on cnbc. if we
a lot of rumors that people think romney is going to try to push bernanke around. raise rates. not only did warsh say this last night, i made some phone calls to the romney people. there's not going to be a romney fed confrontation. nada. not going to happen. don't even think about it. anyway, the romney people would not be unhappy with a zero interest rate for their first year, right, so they could help get the economy jump started maybe with some better tax and regulation policy. anyway, they couldn't move bernanke because he's stubborn. and, anyway, the federal reserve board is stacked with easy money obama appointees. so it would be like knocking up against -- it's not romney's style. he's just not going to do that. on the other hand, i think warsh is right. the fed is still worried about the economy. look at the numbers this morning on capital goods and durable goods. take out defense and take out aircraft. these were lousy numbers. businesses not investing. there's no capital goods activity. >> we had a bunch of ceos ring the bell today from fix the debt. >> yes. >> proposing what
chairman reince priebus. why? what a day to have him. mitt romney wrote an op ed. we'll talk about that and the op ed below it that talks about the next battleground, the state labor wars. and then the "santelli exchange," bottom of the hour. what we're going to talk about, to be or not to be. is inflation gestation or inflation on vacation? we'll talk about that and all the issues that involve your money. top and bottom of the hour. mentm and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ >>> welcome back to "squawk on the street." i'm courtney reagan. let's take a look at shares of lane christensen. it's attractive with limited downside because the business itself protects this floor. as you can see
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then you're going to have mitt romney coming in and then the president would have to decide do i simply let the cuts expire and then let mitt romney try to deal with that, try to implement new tax cuts in 2013? don't know exactly how that's going to play out. and, you know, we'll see. right now the president's a slight favorite for re-election, but he certainly could lose it and we've got a whole new ball game. democrats are certainly going to be a lot less willing to play ball with mitt romney if mitt romney wins the election. >> yep. last question, john. david gregory this morning tweeted that he had talked to a very prominent business leader that in this business leader's view, whatever solution comes would be plus or minus 10% of the simpson/bowles framework. t does that sound right to you? is that what we're working with? >> absolutely it is. we're in the range of $4 trillion over ten years with a at least double or triple the amount of spending cuts in relation to the amount of tax increases. but the only way you get a deal, both elements, entitlement cuts and tax increases. >> john h
the volume is so low? >> goldman sachs' article in the paper today about them giving a lot to romney, can that lead to a thought that perhaps you get less dodd-frank and therefore pay goes up? >> if romney becomes president, what does he say about repealing dodd-frank, parts of it if not all of it? the affordable care act goes away. dodd-frank is well, provisions of it. no doubt the perception is he would be easier on it. >> basically dued in the new pew poll. things have changed. >> i wonder if this elizabeth warren race up in massachusetts is going to play a role. you get elizabeth warren in the senate if she wins, she's obviously the most deidentify house voice against banks. maybe this will continue. obama, warren and then banks just become in a continually bad place to get a job. >> regulation of the banks is in interpretation because of dodd-frank. much of it has passed. they are adjusting to new realities. in terms of capital requirements, holding a lot more capital against businesses and transparency, things like derivatives exchanges hit to their profitable. >> you have all the i
to gm. this is a romney stock. romney said he'll dump gm the moment he becomes president. but tim said that we'll wait until people are back to even. i think they'll get back to even. >> they say by mid decade in europe. >> i trust them. >> something we've been waiting to say all week long. the opening bell is coming up next. "squawk on the street" will bring it to you after this short break. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. >>> welcome back. you're watching "squawk on the street" live from the financial capital of the world. opening bell set to ring in a little less than two mississinu. the man on that balcony
's malfeasance here, this is our tack code. so in the end, you know, both candidates, the president, mitt romney, well, many people i talk to aren't happy about the degree of detail, but i don't get unhappy about the degree of detail about what, for example, mitt romney needs to go to congress to work out. remember, one guy can't do any of this. it's very disingenuous to think a candidate's going to go on the air during a debate with sound bites for a couple minutes and lay out all the details. but what is important is this tax code, if you modify it, it's like squeezing a water balloon. if you mot fi that earned interest, there will be another way that lawyers and accountants will get together to benefit from this looming policy. the real answer in my opinion for most americans is scrap it. but do poliansn either side of the aisle really have the nerve to scrap it? because if they were really serious, scrapping the tax code, writing something simple, checking every time of subsidy and see if it passes a litmus test, write some set rules for all this legislation, that's the way to go. but politi
. >> two times the amount of high five. >> romney supporters may not question the validity of the data but they'll say that 2% is not strong enough to support job growth in this economy. while the numbers are not bad, they're not bad, they're not good and they're not good enough for job creation. >> last night on "mad money" you said almost no company gets through the ridiculous gauntlet of the third quarter unscathed and you have said the next 11 days before election day are going to be tough no matter what. >> they're torture. i keep coming back to a couple -- this is the best example. we had broadcom on the other day. scott mcgregor, the ceo. they blew in numbers when it comes to wireless. they did good cable numbers. we had comcast with good numbers. they exceeded every single metric. they have tremendous apple business. i was joking about going 33 bid because stock was at 34 at a time. the stock has not had a minute's rest. it keeps going down. what more does the market want? the gauntlet is to high. it had technology. it had a sense that the peak was reached with apple. in other
from doe. >> absolutely it will. mitt romney will no doubt -- i can't say -- guarantee that he'll bring it up but most expect him to and for a lot of reasons so i think that we'll hear more about this tonight and the days to come. >> all right. phil, thanks so much for that. phil lebeau joining us talking about a123 systems. meantime, gary is here, moved his way over to the citi post at the nyse. >> carl, i'm right behind you for the viewers who see that shot at the barclay's shot where citi is trading. reason i come here, real simple. try to understand what's happened look at the sales. the fundamentals, if you knew that the ceo was going to be either forced out or decided to push the issue and decided to leave, whatever that be, if you knew that after a big volume day yesterday and plus 5% day you'd have the news you'd expect the stock would have had a major sell-off. but take a look. in we look at time and sales, you see what happens. stock was down early this morning, rallied from 9.50 up. technically tested around 10:45's yesterday close and rallied up since. if i was a technician,
Search Results 0 to 19 of about 20